Genworth Financial authorizes new $350 million share repurchase program

Genworth Financial Inc. (NYSE: GNW) announced that its board of directors has authorized a new $350 million share repurchase program for its outstanding common stock. The authorization comes in addition to the company's existing $700 million repurchase program, which has $16 million remaining as of September 17, 2025.

The company determined the size of the additional program based on future cash flow projections from its subsidiary Enact Holdings Inc. (NASDAQ: ACT). Any repurchases under the program will be funded from holding company cash.

"The Board's decision to authorize a new share repurchase program reflects the company's commitment to delivering shareholder returns," said Tom McInerney, Genworth's president and chief executive officer.

Genworth noted that potential cash recoveries from litigation involving AXA S.A. and Santander Cards UK Limited were not included in sizing the additional authorization, pending the outcome of Santander's request for permission to appeal a trial court decision. The company stated it will consider further expansion of the share repurchase program if Santander's appeal request is denied or if the trial court judgment is upheld.

Under the new program, share repurchases may be made through open market transactions, privately negotiated transactions, or other means, including Rule 10b5-1 trading plans. The timing and number of shares repurchased will depend on factors including stock price, trading volume, and market conditions. The authorization has no expiration date and may be modified, suspended or terminated at any time.

Genworth Financial provides products and services for aging-related financial challenges and is the parent company of mortgage insurance provider Enact Holdings.

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